Kazakh Government's objective is to maintain the level of pension payments in line with international standards - Prime-Minister

08:48, 6 May 2013

ASTANA. May 6. KAZINFORM - The task of the Government of Kazakhstan is to maintain the level of pension payments in line with international standards, the Prime Minister Serik Akhmetov said, speaking in "Zheti kүn" programme on "Khabar" TV channel. "The changes discussed these days are a logical continuation of the process of improving the pension system as a whole".

We all understand and remember that it is in our country for the first time in the post 1998 the pension system has been reformed. Then the country first introduced a funded pension system. Its main aim was to gradually, in the future, move from the payment of pensions from the state budget to receive pensions at the expense of the citizens of their own retirement savings. From that moment on, as statistics shows, the pension payments have repeatedly been raised. Today, the average pension consists of a base, labor and accumulation of just over 40 percent of the average monthly salary. It is about KZT 40-42 thousand (tenge), " said Akhmetov.

According to him, the objective of the Government is to maintain this level that meets international standards, and it is the main goal of modernization of the pension system carried out in Kazakhstan.

Government of Kazakhstan Government Economy